H1b Extension - Working with client currently +startup

[startupjunkie]

hello everyone,

I came to the US in 2006, did my masters in IT from a reputed college and started working on consulting gigs since 2007 - CPT, OPT and H1b all with the same employer, worked with 5 clients, had a great relationship with all of them. Since the last 7 months i have been working on a startup web app on the side. I am planning to go live in the next 4 months. here is the problem

current client says he doesnt know when i will roll off.

Current visa expires Sep 31 2012,

I cant really change my Job because i wont be able to settle in and do justice to a new client because of my startup work which will be at its peak by then.

What are my options?

can i show somehow that my startup web app is operated by my employer and he can File an H1b based off of that ? his is a small company, but has been working with me since 2007 and paid me everymonth, no problems.

Apply for H1 in PP next month and just go get stamping done so that i am all set for 3 years?(i hear there is a Big 221g risk in this case nowadays?)

Please let me know?